Friday, 6 November 2009

Global oil production plateau since 2005

So global oil production is on a plateau since 2005.Soon, like next year, we can expect a decline in global production.The IEA revised it's figures last November - DOUBLING the decline rate.It went from 3.7% per year to 6.7% per year.100 / 6.7 gives 15 years.Ie, all the usable/reachable oil is gone in 15 years. That's 2024.So maybe we should, just possibly, a little bit maybe, value renewables and value public transport.